Spot Ethereum ETFs Set to Launch on Cboe July 23

Key Points:

• Spot Ethereum ETFs from Fidelity, Franklin, Invesco, VanEck, and 21Shares will begin trading on Cboe’s BZX Exchange on July 23, 2024.
• The SEC is expected to approve the ETFs by July 22, with issuers having filed final details, including fee structures.
• The success of these ETFs could influence future crypto ETF approvals and potentially drive Ethereum’s price higher, with expectations for a possible Solana ETF emerging

On July 23, Cboe will debut several Ethereum exchange-traded funds (ETFs), marking a significant development in the digital asset market. 

Read more: Ethereum ETF Issuers Race to Launch Funds Amid Competitive Fee Strategies

Spot Ethereum ETFs to Launch on Cboe

The listed funds include the Fidelity Ethereum Fund, Franklin Ethereum ETF, Invesco Galaxy Ethereum ETF, VanEck Ethereum ETF, and the 21Shares Core Ethereum ETF.

The spot Ethereum ETFs, pending final regulatory approval, will be available on Cboe’s BZX Exchange and quoted on the SIAC Tape B data feed. Each fund will track Ethereum, which is expected to attract substantial market attention.

Bloomberg ETF analyst Eric Balchunas reported on July 15 that the SEC is poised to approve these funds by July 22, with trading set to commence the following day. The issuers, having filed updated S-1 forms on July 18, have outlined sponsor fees and additional details. Notably, VanEck is offering a one-year fee waiver for the initial $1.5 billion in assets, while 21Shares will waive its 0.21% fee until the fund hits $500 million in assets or six months have passed.

Ethereum ETFs and the Potential for Crypto ETFs

Industry experts suggest that the performance of these spot Ethereum ETFs could influence the broader market and potentially set a precedent for future crypto ETFs. Danny Chong, co-founder of Tranchess, believes that inflows into these ETFs might have a significant impact on Ethereum, possibly pushing its price above $5,000 due to its expanding ecosystem and utility.

Looking ahead, anticipation is growing around the possibility of a Solana ETF. The success of spot Ethereum ETFs may shape the regulatory and market landscape for future digital asset products, potentially leading to broader acceptance and integration of cryptocurrencies into traditional financial frameworks.